When to expect memo of sale?

kathryn_w

Hi all,

We are FTBs so not sure if being overly stressy. Offered on a property on the 2nd, accepted on the 3rd. Sellers are now looking for somewhere to buy. Estate agent asked me to provide our solicitor's details as soon as we had instructed someone, which I did on the 5th. Didn't hear anything back from the estate agent so followed up on the 13th asking for confirmation they had received the details, to which they said they had. Our solicitors have confirmed no memo of sale has yet been received.

Would you expect the memo of sale to have been sent by now? Not sure if the sellers not yet having a property to buy would affect that? I don't want to be annoying if there's no need.

Thanks !

davilown

It depends on the EA to be honest. If I were you though, I wouldn’t be instructing any solicitor or surveys until the vendor has found somewhere.

kathryn_w

davilown said:

It depends on the EA to be honest. If I were you though, I wouldn’t be instructing any solicitor or surveys until the vendor has found somewhere.

Thanks, we've told them not to do anything until the chain is complete

youth_leader

I waited ten days for my MOS as my seller took time to find a solicitor. 

Tiglet2

The sellers haven't yet found a property to buy, so it is entirely possible that the EA is delaying issuing the sales memo until they can send it out to both your solicitor and the onward solicitor for the property they wish to buy.  At the moment the chain is not complete, so pointless starting any legal work if the vendor wants to tie in their sale with their purchase (i.e. complete all transactions on the same day).

kathryn_w

Tiglet2 said:

The sellers haven't yet found a property to buy, so it is entirely possible that the EA is delaying issuing the sales memo until they can send it out to both your solicitor and the onward solicitor for the property they wish to buy.  At the moment the chain is not complete, so pointless starting any legal work if the vendor wants to tie in their sale with their purchase (i.e. complete all transactions on the same day).

Great thanks - just needed some reassurance this is fine and normal in a chain as couldn't see much online!

eddddy

It's worth asking the EA what the seller's plans are in this respect. i.e. Is it correct that they want to wait until they've found a place to buy (or have a complete chain) before instructing solicitors, etc.

It's best not to assume that's the case, for example, just in case the problem is that the MoS has 'gone missing' - and you suddenly get an angry call from the EA, asking why you're not doing anything.


FWIW, it's unlikely to be the EA's idea to delay instructing solicitors - it's more likely to be the sellers'.  EA's generally like buyers to start spending money on solicitors, mortgage applications, etc, as quickly as possible. Because once a buyer has spent a few hundred pounds on searches, mortgage applications etc, they're less likely to 'change their minds' about buying and walk away.

PollyWollyDoodle

FWIW my estate agent advised my buyers not to instruct solicitors or start searches until I found somewhere to buy. It was his advice, not mine.  Not all estate agents are alike. 

Thrugelmir

PollyWollyDoodle said:

FWIW my estate agent advised my buyers not to instruct solicitors or start searches until I found somewhere to buy. It was his advice, not mine.  Not all estate agents are alike. 

The majority of people don't.  Why waste time, effort and money until one needs to. Doesn't speed the transaction up. 

FirstTimePlx

Not sure if it is strange, but the Memo of Sale has gone to my solicitor, but I didn't receive a copy from the Estate Agents.

It wouldn't affect anything would it?

GDB2222

FirstTimePlx said:

Not sure if it is strange, but the Memo of Sale has gone to my solicitor, but I didn't receive a copy from the Estate Agents.

It wouldn't affect anything would it?

It doesn’t matter, as long as you have seen it, and it’s correct!